Voters in the Bahamas have elected a new government that could spell trouble for the $4.2b Baha Mar integrated resort and casino.
On Wednesday, Bahamian voters overwhelmingly opted for change, unceremoniously turfing incumbent Prime Minister Perry Christie in favor of Free National Movement (FNM) leader Hubert Minnis, while reducing Christie’s Progressive Liberal Party (PLP) to just five seats – possibly four, pending a recount – in the 39-seat House of Assembly.
Minnis (pictured) was a vocal critic of the Christie government’s handling of the Baha Mar bankruptcy process, the property’s subsequent sale to Chinese conglomerate Chow Tai Fook Enterprises (CTFE) and the sweetheart terms of operation that CTFE was able to extract from the government. Baha Mar held a ‘soft opening’ late last month but won’t begin accepting actual guests until May 29.
The night before Wednesday’s vote, Christie warned supporters that Minnis’ FNM would likely “try to sell Baha Mar, which would mean court cases, which would mean delays and thousands of jobs at risk.”